DIVERGENT Energy Services Corp.: Successful Installation of the Linear Electric Submersible Pump


CALGARY, ALBERTA--(Marketwired - April 29, 2015) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

DIVERGENT Energy Services Corp. (the "Corporation") (TSX VENTURE:DVG) is pleased to announce that it has successfully installed and continuously operated its Linear Electric Submersible Pump (the "Pump"). The newly installed Pump has now been running continuously and without incident since start up, with over 160 hours of operation to-date.

As stated in our press release of April 22, 2015, we returned to the field to install a third Pump that incorporated a new bushing design. The bushing had been identified as the source of failure in the first two Pumps.

In addition to the new bushing, additional software has been developed that provides automated protection against overheating by reducing the motor speed. This is critical as permanent magnets have an upper temperature limit at which point the magnetism begins to deteriorate.

The key observations of the Pump's operation are:

  • the new bushing design appears to have resolved the friction issue;
  • the control panel's automated temperature-protection software that reduces pump speed to protect the motor from overheating has successfully activated itself - reducing pump speed until the motor cools and then resuming to the programmed speed;
  • the Pump is functioning efficiently and has produced the expected volumes; and
  • the modem/cell device is successfully transmitting data in real-time.

Ken Berg, President and CEO of the Corporation, commented "Our team has done an amazing job in responding to the test results. The test accomplished its primary purpose of identifying any design flaws within the product. The quick resolution and implementation of the changes gives me great confidence to move ahead with further installations."

ABOUT THE SYSTEM

The permanent magnet motor technology duplicates rod pump movement without rod string or surface lifting equipment. All moving parts are contained within the submersible pump housing, eliminating rod and tubing wear, making the Pump ideally suited for landing in deviated or horizontal oil wells and as an alternative to conventional pumpjack installations.

Further information can be accessed at www.divergentenergyservices.com.

Headquartered in Calgary, Alberta, DIVERGENT Energy Services Corp. provides an array of specialized products and services that are used in the energy, mining, and industrial & agricultural water industries.

This press release contains forward-looking statements, including, without limitation, statements pertaining to the installation of additional hardware and the starting of the Pump. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. Forward-looking statements are based on estimates and opinions of management of the Corporation at the time the information is presented. The Corporation may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Corporation undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

DIVERGENT Energy Services Corp.
Ken Berg
President and Chief Executive Officer
kberg@divergentenergyservices.com

DIVERGENT Energy Services Corp.
Scott Hamilton
Chief Financial Officer and Corporate Secretary
shamilton@divergentenergyservices.com

DIVERGENT Energy Services Corp.
1170, 800 - 6th Ave SW
Calgary, AB T2P 3G3
(403) 543-0060
(403) 543-0069 (FAX)
www.divergentenergyservices.com